This website is for Private Investors* only

*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

Obtains access to the information in a personal capacity;

Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;

Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;

Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;

Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;

Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.

16:30 21/02/18

19,788.89

16:30 21/02/18

4,056.60

16:30 21/02/18

5,728.42

16:30 21/02/18

4,007.43

16:20 21/02/18

83.58

16:18 21/02/18

-28.13%

-32.72

Like the day before, it was some of the more defensive issues in the market that bore the brunt of selling despite the rout in equities worldwide, with recent slight shifts in expectations for policy tightening by the Federal Reserve in 2018 apparently triggering a sharp rise in stockmarket volatility as government bonds markets in the US, and elsewhere, came under pressure.

Similar to Monday's price action, shares of some of the major telecommunications groups also saw heavy selling, but this time it was concentrated in the mobile telecommunications space, as analysts at Credit Suisse highlighted a group of stocks it estimated had a higher than average risk profile.

In particular, they highlighted Altice, Mediclinic, Korian, Talk Talk, The AA, Premier Foods and Countrywide as companies where "the bond market therefore has an above average influence on the equity story too.

"[...] These companies are seen as most sensitive to changes in operational or cash flow performance or where rising yields may have a significant impact on the equity story."

Other London-listed names included in the broker's 26-long list of European small and mid cap stocks with above average risk profiles were: Debenhams, Devro, BBA Aviation and Greene King.